How to Declare Yourself Bankrupt in UK

How to declare yourself bankrupt In UK BANKRUPTCY If you're really struggling with unsecured debts and you can't see a way out of ever repaying your debts, Bankruptcy may be an option It lets you repay as much as you realistically can, and then writes off the rest The first thing to do before you decide to declare yourself bankrupt is to be sure that bankruptcy is the best option for you This can be done by looking at the pros and cons, considering the alternative options, and seeking expert advice Pros Cons If you have sought expert advice, and you are happy that bankruptcy is the best way forward, you will need to take the following steps to declare yourself bankrupt Fill out the forms Mont You will need to fill out the 'Debtor's Bankruptcy Petition' and 'Statement of Affairs' Debtor's Petition' forms Petition to file for Bankruptcy On the 'Statement of Affairs, Debtor's Petition' form you need to list all of your assets as well as details of your debts enthe oan oaon ue and Make sure you can pay the fees PAY The court won't consider your petition for FEES Court bankruptcy unless you can pay the application fees These are £525 to manage your bankruptcy and £175 to cover court costs STOP Fees can be paid in cash, by postal order or by cheque Hand in your forms and fees The court will then consider your bankruptcy application, and then take one of four courses of action Issue a bankruptcy order - which would make you bankrupt Delay your case if the court needs more information Reject your petition for bankruptcy Reject your bankruptcy petition and order an alternative If your bankruptcy petition is accepted If your petition for bankruptcy is successful you will enter bankruptcy You will hand over rights to all your assets to a trustee, who may sell them in order to repay your lenders Designed & Developed In Public Interest By Source: http://www.debtadvisorycentre.co.uk Ibankruptcy/how-to-declare-yourself- bankrupt-0-3913-0.html www.successfulbankruptcy.co.uk Piktochart I moake information beautiful